金融英语阅读辅导:Derivatives衍生工具

  • 时间:2012-02-08 来源:http://edu.chinawuliu.com.cn 责任编辑:外语考试论坛

  A derivative is a security which “derives” its value fromanother underlying financial instrument, index, or otherinvestment. Derivatives are available based on theperformance of stocks, interest rates, currencyexchange rates, as well as commodities contracts andvarious indexes. Derivatives give the buyer greaterleverage for a lower cost than purchasing the actualunderlying instrument to achieve the same position.For this reason, when used properly, they can serve to “hedge” a portfolio ofsecurities against losses. However, because derivatives have a date of expiration, thelevel of risk is greatly increased in relation to their term. One of the simplest formsof a derivative is a stock option. A stock option gives the holder the right to buy orsell the underlying stock at a fixed price for a specified period of time.
  衍生工具是一种金融工具,它是从其他原生金融工具如指数衍生出来的。衍生工具的获得成立在证券、利率、汇率、商品合同以及各类指数。衍生工具给采办者一个杠杆效用促成以更低的成本采办现实需要的基本工具。那么如不美观正确利悠揭捉生工具的话,就可以在投资组合中套期保值。可是衍生工具有一个截至日期,所以风险水平很大水平上取决于它的刻日。最简单的衍生工具形式是股票期权。股票期权使得持有者有权在特按时代里以一个固定价钱生意底层股票。
   financial derivatives
  【财经】金融衍素性产物, 衍素性金融产物, 衍素性金融工具 (指以基本金融工具 (UnderlyingInstrument) 为前提, 并以基本金融工具为生意对象, 价钱也由基本金融工具的价钱变换所抉择的金融工具)

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